Retail sales fall as consumers cut back and prices soar

All but two retail sectors recorded an annual decline in the volume of sales as consumers cut back amid rising prices and fears of a recession.

All but two retail sectors recorded an annual decline in the volume of sales as consumers cut back amid rising prices and a growing cost of living crisis. Picture: Sasko Lazarov/RollingNews.ie

The volume of retail sales during June 2022 fell by 1.3% compared to the previous month, according to figures released by the Central Statistics Office (CSO).

All but two retail sectors recorded an annual decline in the volume of sales as consumers cut back amid rising prices and a growing cost of living crisis.